Q: Why is the problem of combating general flucutations of economic activity and the recurrent waves of unemployment such a supremely important problem?
A: "This is of course, one of the gravest and most pressing problems of our time. Its solution will require much planning in good sense it does not or at least need not require that special kind of planning which according to its advocates is to replace the market. Many econnomists hope indeed the ultimate remedy may be found in the field of monetary policy which would involve nothing incompatible even with 19 century liberalism." p. (134)
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